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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income per consolidated statements of income $ 99,943 $ 54,368
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense, net (19,331) 51,791
Depreciation and amortization 22,428 19,656
Net amortization of securities 10,780 4,666
Gains on sales of loans, net (45,625) (30,361)
Compensation expense, long-term incentive plan 3,395 2,668
Deferred income tax provision 12,500 (19,500)
Proceeds from sales of loans held for sale 1,334,752 1,133,259
Purchases and originations of loans held for sale (1,220,055) (1,167,299)
Originations of mortgage servicing rights (15,201) (12,396)
Earnings on bank-owned life insurance (2,418) (2,544)
Net change in other assets 23,623 (45,712)
Net change in other liabilities (9,802) (1,491)
Other operating activities, net (6,871) 28,447
Net cash from operating activities 188,118 15,552
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 105,814 79,114
Proceeds from maturities, prepayments and calls of securities available for sale 442,450 249,383
Purchases of securities available for sale (1,024,649) (492,067)
Net proceeds from bank-owned life insurance 1,791 592
Net change in federal funds sold and securities purchased under reverse repurchase agreements 50 0
Net change in member bank stock (1,037) 361
Net change in LHFI and PPP loans (237,666) (1,193,397)
Proceeds from sales of PPP loans 353,287 0
Purchases of premises and equipment (13,920) (8,638)
Proceeds from sales of premises and equipment 0 3
Proceeds from sales of other real estate 1,167 10,279
Purchases of software (2,336) (3,179)
Investments in tax credit and other partnerships (13,396) (1,612)
Purchase of insurance book of business 0 (3,097)
Net cash used in business acquisition 0 (4,834)
Net cash from investing activities (388,445) (1,367,092)
Financing Activities    
Net change in deposits 583,320 2,259,916
Net change in federal funds purchased and securities sold under repurchase agreements (7,343) (185,765)
Net change in short-term borrowings (4,653) 4,062
Payments on long-term FHLB advances (9) (34)
Payments under finance lease obligations (712) (905)
Common stock dividends (29,325) (29,393)
Repurchase and retirement of common stock (24,990) (27,538)
Shares withheld to pay taxes, long-term incentive plan (1,241) (1,079)
Net cash from financing activities 515,047 2,019,264
Net change in cash and cash equivalents 314,720 667,724
Cash and cash equivalents at beginning of period 1,952,504 358,916
Cash and cash equivalents at end of period $ 2,267,224 $ 1,026,640